# iShares iBonds Sep 2020 Term Muni Bond ETF (IBMI): ETF Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/ibmi for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: IShares · Asset class: Equity - Strategy: Passive Index · Inception: 2014-08-12 The investment seeks to track the investment results of the S&P AMT-Free Municipal Series 2020 IndexTM. The fund generally will invest at least 90% of its assets in the component securities of the underlying index, and may invest up to 10% of its assets in certain futures, options and swap contracts, cash and cash equivalents, as well as in securities not included in the underlying index, but which the advisor believes will help the fund track the underlying index. The underlying index measures the performance of investment-grade, non-callable U.S. municipal bonds maturing in 2020. ## Key Facts | Metric | Value | |---|---| | Price | $25.46 | | Expense Ratio | — | | Assets Under Management | $302.0M | | NAV | — | | Holdings Count | — | | Distribution Yield (TTM) | — | | Annual Distribution (TTM) | — /share | | Distribution Frequency | Monthly | | 52-Week Range | $25.12 – $25.69 | | Beta | 0.08 | ## Latest Distribution - Amount: $0.0220 /share - Ex-date: 2020-07-01 - Pay date: — ## Frequently Asked Questions ### What does IBMI invest in? The investment seeks to track the investment results of the S&P AMT-Free Municipal Series 2020 IndexTM. The fund generally will invest at least 90% of its assets in the component securities of the underlying index, and may invest up to 10% of its assets in certain futures, options and swap contracts, cash and cash equivalents, as well as in securities not included in the underlying index, but which the advisor believes will help the fund track the underlying index. The underlying index measures the performance of investment-grade, non-callable U.S. municipal bonds maturing in 2020. ### What is the expense ratio of IBMI? An expense ratio for iShares iBonds Sep 2020 Term Muni Bond ETF (IBMI) is not available from our data sources. Neither our market-data feed nor the SEC's structured prospectus and annual-report datasets report one for this share class. The fund's prospectus on the issuer's site carries the authoritative fee. ### How big is IBMI? iShares iBonds Sep 2020 Term Muni Bond ETF (IBMI) manages $302.0M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation. ### Is IBMI actively managed or an index fund? IBMI is a passive index fund. It tracks a published benchmark by holding the constituents in their published weights. Index funds typically charge low expense ratios because there's no security selection cost. ### When was IBMI launched? iShares iBonds Sep 2020 Term Muni Bond ETF (IBMI) launched in August 2014 and is managed by IShares. ### How has IBMI performed? IBMI's total return (price change plus reinvested distributions) is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon. ### Does IBMI pay a dividend? iShares iBonds Sep 2020 Term Muni Bond ETF (IBMI) currently distributes little or no income. Trailing-twelve-month yield is —. Investors looking for income should consider income-focused alternatives. See the Peers tab. ### How often does IBMI pay dividends? iShares iBonds Sep 2020 Term Muni Bond ETF pays dividends Monthly. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### What is IBMI's dividend yield? IBMI's trailing-twelve-month yield is —, calculated from the sum of dividends over the past year divided by the current price. ### When is IBMI's next ex-dividend date? The most recently announced ex-dividend date for IBMI was 2020-07-01. The next ex-date typically follows Monthly; once announced it appears at the top of the dividend history table on this page. ### Why is IBMI's expense ratio not shown? Neither our market-data feed nor the SEC's structured filing datasets (prospectus fee tables and Form N-CEN annual reports, which we re-check monthly) report an expense ratio for iShares iBonds Sep 2020 Term Muni Bond ETF (IBMI). That usually means the fund family doesn't register this share class's ticker in the SEC's machine-readable data, or the vehicle reports fees outside the standard fund forms. Rather than estimate, we leave it blank; the prospectus on the issuer's site carries the authoritative number. ### How does IBMI charge its expense ratio? The expense ratio is deducted in tiny daily slices from IBMI's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/ibmi - Distribution history: https://www.dividenddata.com/funds/ibmi/dividend - Holdings & diversification: https://www.dividenddata.com/funds/ibmi/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/ibmi/expenses - Peer comparison: https://www.dividenddata.com/funds/ibmi/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.